U.S. Bancorp $USB Stake Lifted by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its stake in U.S. Bancorp (NYSE:USB) by 11.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 238,896 shares of the financial services provider’s stock after buying an additional 23,780 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in U.S. Bancorp were worth $11,546,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of USB. Ballentine Partners LLC grew its position in shares of U.S. Bancorp by 2.0% during the third quarter. Ballentine Partners LLC now owns 21,407 shares of the financial services provider’s stock worth $1,035,000 after acquiring an additional 425 shares during the last quarter. Federated Hermes Inc. boosted its stake in U.S. Bancorp by 12.3% during the 3rd quarter. Federated Hermes Inc. now owns 11,153,092 shares of the financial services provider’s stock valued at $539,029,000 after purchasing an additional 1,221,784 shares during the period. VanWeelden Wealth Management LLC bought a new position in U.S. Bancorp in the 3rd quarter worth about $245,000. Stablepoint Partners LLC increased its stake in shares of U.S. Bancorp by 2.4% in the third quarter. Stablepoint Partners LLC now owns 33,142 shares of the financial services provider’s stock valued at $1,602,000 after purchasing an additional 765 shares during the period. Finally, J. Safra Sarasin Holding AG acquired a new stake in shares of U.S. Bancorp in the third quarter valued at approximately $1,285,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock opened at $56.09 on Friday. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $56.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a market cap of $87.18 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 1.01 and a beta of 1.07. The company’s 50-day moving average price is $53.54 and its two-hundred day moving average price is $49.39.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.07. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The company had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.31 billion. During the same quarter in the previous year, the company posted $1.07 EPS. The business’s revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $2.08 annualized dividend and a dividend yield of 3.7%. U.S. Bancorp’s dividend payout ratio is currently 45.02%.

Analyst Upgrades and Downgrades

USB has been the subject of a number of recent analyst reports. Barclays increased their price objective on U.S. Bancorp from $56.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Wells Fargo & Company increased their price target on U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. TD Cowen raised their price target on U.S. Bancorp from $65.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Truist Financial upped their price objective on shares of U.S. Bancorp from $58.00 to $61.00 and gave the stock a “hold” rating in a report on Wednesday, January 21st. Finally, UBS Group raised their target price on shares of U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.19.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.